Business Plan on Iced Water Business Executive Summary in Nigeria
Introduction
There are many important factors to consider when launching a new water ice business. New water ice business owners need to put together a comprehensive plan that takes into account all of the different elements of their business. This includes everything from the initial start-up costs, funding to the day-to-day operations and marketing strategy.
Furthermore, new business owners need to be realistic about their goals and expectations. It is also important to have a solid understanding of the competition. With a well-thought-out plan, new business owners can increase their chances of success.
Overview
NCS ICED WATER is a proposed standardized Iced Water production and retail enterprise supplying immediate Ogudu & Ojota teeming residents, restaurants, Fast-foods, caterers, kiosks hospitals, labs and the likes with quality Iced Water of different shape, textures and sizes. NCS Iced Water aims to gain at least a 10% market share in the 1st year by strategic discounts, market reach and a futuristic franchise model. NCS Iced Water is located at 35, Ogudu Road, Ojota, Lagos.
The Company
NCS Iced Water will be established as a limited liability company owned by Igbokwe Ifeanyichukwu, Gladys Elliot and Eno Bassey. The NCS Iced Water will be managed and overseen by Igbokwe Ifeanyichukwu, a first class Iced Water expert of over twenty years having worked as the sales and marketing manager for a big frozen food retail company in Ogudu Lagos Nigeria, helping the company to reach her targets, gaining sound relationship with top-notch customers, like street hawkers, Bar houses, hotels, mobile caterers, event planners and the likes.
Executive Summary of Iced Water Production Business Plan in Nigeria
VISION
To grow until we become Nigeria’s biggest and largest chain of Iced Water Production and Retail Company.
MISSION
- To provide Ogudu, Ojota and the larger Lagos area and Nigeria with the best quality Iced Water and prompt delivery service.
- To meet the highest standards of excellence with superb service and product offerings in a friendly, sparkling, and soothing atmosphere.
- To actively seek out and respond to the needs of our customers.
OBJECTIVES
- Increase revenue from the sales of Iced Water to above N25, 000,000 over a 2-year period.
- To maintain profit margins at 20-25% through close attention to expenses and cost of operation.
- To drive awareness and drive sales through referrals and social media campaigns.
- Attract all classes of potential customers into becoming loyal customers of the establishment.
- To become the premier fast growing Iced Water in every market entered.
- To open a new store every 12 months.
- To achieve net profit in year one, increasing in year two, by containing costs and meeting sales goals.
- To provide quality sales service and products at fair and best possible prices.
KEYS TO SUCCESS
- Good retail location in a high-density business area.
- Hygienic and neat production facility.
- Outstanding customer service
Products and Services
NCS Iced Water will provide wholesale and retail iced water of varied sizes with an option of home delivery service and free delivery for bulk purchases. We are very prompt with impeccable customer service.
We have a 24 hours power source that keeps us always in supply. Our Iced Water is produced in large commercial volumes.
The Market
Nigeria, no doubt, is Africa’s most populated country and its largest economy. It is also Africa’s most important consumer of food products. Lagos is the business capital of Nigeria and most populous state. Lagos boasts of over 20 million residents the Iced Water industry valued at N10 billion per annum. Experts also believe that this market will witness a 5% growth in 2018 alone. The cost of selling one industrial iced water (whole sale price) is about N150 (rainy season) to N250 during the dry season.
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Competition
In the true sense of the word, there is just one competitor in the Ogudu service, Sankol Iced Waters, which has a similar but far lower quality in terms of reliability and customer service. Other competitors are kiosk sized Iced Water makers in market places and street corners who do not have a consistent Iced Water service.
Management Team
Igbokwe Ifeanyichukwu is bringing in 15 years’ experience as a regional sales and marketing manager in Chico Iced Water Port-Harcourt. He hold a B.Sc. Business Administration from Obafemi Awolowo University, Ile-Ife, having being into the food business since his teenage years, he later went to get a certification in sales and marketing management from Tufts Business and Management School in year 2006, and a PMP certification in 2012. He will be in-charge of day to day activities of the business.
OYEBADE Adejumobi Ademola is highly knowledgeable in the healthy restaurant business. He has over 7 years’ experience in the industry. Moreover he is a graduate of Agriculture from the prestigious Obafemi Awolowo University, Ile-Ife. He is a Project Management Professional and certified Business Consultant.
Mr Jude Okon (B. Agric., MBA, and PMP): He has over 15 years’ experience in business management, business start-up dynamics, financial management of business and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.
We brought to the business:
- Capacity to consistently provide high quality products
- Valuable processing skills that make us own the value chain to a good extent.
- Quality processed product and good understanding of the market trend especially as it is affected by seasons.
- Our staff brings operational, marketing and promotional skills to the business.
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Financial Considerations
NCS Iced Water seeks N4 million in long-term financing to cover start-up costs, equipment, building expenses, and working capital. Funding for the launch of the business will be provided primarily by equity from the partners and investors.
Executive Summary of Iced Water Production Business Plan in Nigeria
Our market survey and research shows that NCS Iced Water holds the promise of reaching positive cash flow in its 7th month of operation. The advantage of this is the provision it makes for accelerated repayment of its loan obligations, as well as for dividends to be paid to the owners.
Estimated 1ST year revenue is N12,787,500 with gross margin of N7,432,500.
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